A payday loan is a short-term loan available to you based on how much you earn each pay period. Lenders require proof of income, usually a recent paystub, to qualify for the loan. The lender then grants a loan for that amount along with interest and/or a lender’s fee.
Consumer credit, also known as consumer debt, is any type of personal loan that is used by a consumer to pay for goods and services. If you need to buy a car, purchase a home, attend school, make a home improvement, or meet some other large expense you may consider taking on consumer credit debt.
Have debt? You’re not alone. 8 out of 10 Americans reported having some debt in 2020. Debt isn’t inherently bad, in fact, it can be a necessary tool to get an education. It can also help you build your credit and can be useful when you want to finance large purchases. However, the type and amount of your debt make a big difference in assessing your financial health. Complete this form to find your debt-to-income ratio and learn about your…
If you regularly worry about money, you are not alone. Every year the American Psychological Association (APA) commissions an annual nationwide survey to examine and understand the impact of stress. And every year since it began collecting data in 2007, money-related stress has been a top concern.
Debt consolidation loans allow you to refinance by taking on a new loan to pay off multiple debts. Consolidation combines numerous debt obligations into one monthly bill that streamlines the repayment process for credit cards, loans, and other bills. Loans are typically paid in monthly installments that include interest and fees accrued. They can be an effective way to resolve debt, but only if you meet specific criteria. Find out if debt consolidation is a good idea for you and…
Dealing with debt can be an incredibly scary and stressful experience, but it’s also a common struggle for many Americans. CNBC recently reported that the average American has $90,460 in overall debt, including credit cards, student debt, mortgages and personal loans. You might be asking yourself, “if debt is such a big problem, then why aren’t we all pulling ourselves up by our bootstraps and fixing it?” Unfortunately, getting back on track financially is often much easier said than done,…
Ending your relationship with debt is a journey that takes time, planning, and ultimately, a little bit of math. We created a debt payoff worksheet to help you gain a good understanding of your income, expenses, and how much money you can put toward your debt every month. Our worksheet enables you to crunch the numbers to choose a strategy that is right for your circumstances.
For many couples, weddings are the biggest celebration they’ll plan in their lifetime. Between choosing the venue, bridal party, clothes, food, decorations, food and entertainment, it’s normal to feel excited and overwhelmed at the same time. Unfortunately, many couples also find themselves stressed and uncertain as they try to figure out how to foot the bill. While it’s tempting to rely on credit to pay for your big day, the resulting debt could start your marriage on the wrong foot….
“Pay-for-delete” is an unpredictable credit recovery practice and does not work 100% of the time. The process involves requesting the removal of a derogatory item from your credit report. It often involves paying a debt collector some or all of what is owed. People sometimes hire third parties who promise to work with debt collectors on your behalf. The strategy is risky and doesn’t always work in the consumer’s favor.
Getting out of debt is hard for everyone, but when you’re broke, it can feel impossible. Living from paycheck to paycheck is stressful. Add high-interest debt to the mix, and you’ll find yourself in a vicious cycle. Trying to pay off debt when you are broke can lead to missed bill payments, overdraft fees, poor credit and limited opportunities.